Cost Accounting 

The objective of Cost Accounting course is to provide students with an understanding of, and ability to produce and apply cost accounting information that is used in planning and control process of Business organizations. Special attention is placed on mastering the topics of costing, cost systems, material, labor, FOH, budgeting, variances and performance appraisal.

The Cost Accountant has very important functions to perform, primarily responsible for the determination of unit, job and process costs, and for the operation of internal control within the cost accounting department. The work of cost accountant demands technical know-how, skill, judgment, initiative, and responsibility. Recording Journal Entry, classifying, summarizing, analyzing, reporting and interpreting of cost are few important functions of cost accountant or management accountant. This course is in a serious of courses being offered by Accountancy Knowledge.

 

Course Outlines

1. Costing: Basic concepts of cost and difference between cost and expense. Different types of cost like material, labor and FOH expained.

2. Cost of Goods Sold Statement (CGS): 

 

3. Inventory Valuation

 

4. Inventory Management

 

5. Economic Order Quantity (EOQ)

 

6. Cost Volume Profit Analysis

 

7. Multiple-product Break-even Analysis

 

8. Labor Cost

 

9. Payroll Systems

 

10. Factory Overhead 

 

11. Absorption Costing

 

12. Product Costing Systems

 

13. Job Order Costing

 

14. Process Costing

 

15. Capital Budgeting

 

16. Budgeting

 

17. Standard Costing

 

18. Activity-Based Costing